→ Govt.Bond Loan / FD Loans

Govt. Bond Loan / FD Loans

You might be invested in Govt. Securities like Post Office Bonds, other Govt. Bonds and LIC Bonds for a specific purpose like tax savings etc., 

Whereas the liquidity is little tough when it comes to encash the amount for your emergency financial needs. 

Here is the one point solution for ready cash provided by our CITO Nidhi Limited on your locked funds. This is unique product and we are the only Quasi-Banking MBC offering the loan against approved Bonds and FDs

Apply Now Download form FD Calculator
15 Days

Rs. 10,000 - 3 Lac 

Loan amount
10 Years

1 year

Period
Interest

PF - 2.50 % + GST

Charges and Fees
Features and Benefits
  • Can be opened by all individuals including Minors under Guardianship
  • Minimum deposit amount can be invested from Rs 500/- and in multiples of Rs 100/-. 
  • Deposit period ranges from 12 months to 60 months
  • For Women Depositors 0.50% and for Senior Citizen Depositors 0.75% Extra interest on above rates
  • Nomination Facility Available, Loan Facility Available.
  • Pre-Mature Closure is allowed, subject to applicable norms.
Terms and Conditions
  • For delay in payment of monthly installments, a penalty will be charged at the rate of Rs 2/- for every Rs 100/- per month. 
  • A fraction of month will be treated as full month for the purpose of calculating penalty. 2% Pre-Closure Charges applicable
  • The Period and Installment amount is Fixed at the time of Deposit account opening. There would be no changes in that.
  • Its mandatory to become as a member of the CITO Nidhi Ltd. Member should subscribe for minimum 10 Shares with face value of Rs 10/- per share and total value of Rs 100/-. Should comply with RBI KYC norms and should provide original KYC documents along with photocopy for verification.
  • Interest will be calculated at the rate applicable for the period the deposit has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. All Guidelines applicable with regard to acceptance, payment and transfer of term deposits will apply to the deposits acceptance under this scheme.
  • All resident Individuals can avail
  • Loan shall be granted for general purposes like Personal, Consumption, Education, Health, Business, etc., other than speculative purposes.
  • Can be availed as Overdraft or Term Loan with easy EMI payments Option.
  • Bond should be Assigned in favor or CITO Nidhi Ltd.
  • Pre-Mature Closure is allowed, subject to applicable norms.
  • No CIBIL rating is required
  • Loan Period available for  1 year or left over period for the Bond  maturity whichever is earlier.
  • Avail Loan upto 70% of the Assigned  Value for Bonds and upto 85% of Fixed Deposit. 
  • For delay in payment of monthly installments, a penalty will be charged at the rate of Rs 2/- for every Rs 100/- per month. 
  • A fraction of month will be treated as full month for the purpose of calculating penalty. 2% Pre-Closure Charges applicable
  • The Period and Installment amount is Fixed at the time of Deposit account opening. There would be no changes in that.
  • Its mandatory to become as a member of the CITO Nidhi Ltd. Member should subscribe for minimum 10 Shares with face value of Rs 10/- per share and total value of Rs 100/-. Should comply with RBI KYC norms and should provide original KYC documents along with photocopy for verification.
  • Interest will be calculated at the rate applicable for the period the deposit has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. All Guidelines applicable with regard to acceptance, payment and transfer of term deposits will apply to the deposits acceptance under this scheme.

Interest Rates Chart for Different Tenures

Loan Amount Minimum Rs 10,000/-, Maximum Rs 3.00 lakhs
Repayment Tenor 1 Year or remaining residual tenor of the Bond, whichever is earlier
Processing Charges 2.50% on Loan Amount + GST for Bond Loan, for Loan against FD its NIL
Foreclosure Charges 4% on Loan outstanding f or Bond Loan, for Loan against FD its NIL
Legal & Technical Rs 2000/- upto Loan Amount Rs 5.00 Lakhs Rs 4000/- for Loan Amount above Rs 5.00 lakhs
Primary Security Assignment of Bond in favor CITO Nidhi Ltd.
Guarantee Not Applicable
Other Terms & Conditions
  • Loan upto 85% of your Fixed Deposit / Recurring Deposit with 3% additional interest rate of FD/RD
  • Avail Loan upto 70% of your NSC/KVP/LIC and other approved GOVT Bonds
  • Mandatory undertaking from the borrower/s to effect that the loan / limit will not be for speculative purposes.
  • Can be availed as Overdraft or Demand Loan or Term Loan or Bullet Payment Loan
  • For FD Loan, at the time of maturity, the loan amount will be fully adjusted against the FD/RD and balance amount can be paid to the customer. Loan against MIP deposit, the monthly interest can be adjusted to the loan account towards interest
  • Penal Interest of 2% and EMI bounce charges of 5% of EMI would be applicable as per Loan policy on delayed payments
  • Its mandatory to become as a member of the CITO Nidhi Ltd, and Company will issue minimum 10 shares of Rs.10/- each with total value of Rs.100/- towards share capital
  • Interest will be calculated at the rate applicable for the period of the Loan has actually remained with the Bank. The rates are subject to change from time to time and same will be notified. 
  • All Guidelines applicable with regard to Sanction, Disbursement and Repayment of Loan will apply to the Loan Policy acceptance under this scheme.